H.I.G. BioVentures

Report
H.I.G. BioVentures
July 29, 2011
H.I.G. Capital – Corporate Overview
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H.I.G. is one of the leading private equity firms in the small-cap segment of the market
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Founded in 1993; over $9 Billion under management
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More than 200 investment professionals
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Offices:
• North America: Miami, Atlanta, Boston, San Francisco, New York, Maryland
• Europe: London, Paris, Hamburg
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H.I.G. Funds:
• Venture/Growth Investments: H.I.G. BioVentures; H.I.G. Growth Partners
• Buyout Investments: U.S. LBO, Europe LBO
• Distressed Investments: Bayside Capital (debt)
• Public Equities: Brightpoint Capital
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“Institutionalized” management structure/processes with strong financial staff/controls,
legal/compliance, IT support, and risk management procedures in place
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Differentiated, value-added strategy has resulted in superior track record
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H.I.G. BioVentures – Background
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Established dedicated life science focus in 2004 :
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Approximately $350 Million in capital under management
$150 Million committed to existing portfolio companies
Currently investing out of H.I.G. BioVentures II
Experienced team focused exclusively on life science investing
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Sectors: biopharmaceuticals, medical devices, diagnostics
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H.I.G. BioVentures is the lead or co-lead investor in all investments
• Active board representation in all companies
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H.I.G. BioVentures – Team
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Four senior investment professionals with collectively more than 30 years of
venture capital investing experience
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The H.I.G. BioVentures team has complementary backgrounds covering
• Research and intellectual property
• Product and process development
• Business development
• Operations
• Finance
• Sales and marketing
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The H.I.G. BioVentures team also has a deep network of advisors, coinvestors, corporate leaders, and technical consultants to leverage during due
diligence and on behalf of portfolio companies
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H.I.G. BioVentures – Industry Leadership
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The H.I.G. BioVentures team is active with numerous academic and non-profit
organizations
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Boards of regional venture capital organizations:
o Mid-Atlantic Venture Association (MAVA), FL Bio, GA Bio
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Board and committee participation at national and regional conferences:
o Bio-Investor Forum, Mid-Atlantic Bio, Southeast Bio Investor Forum, FL Venture Forum,
Midwest Healthcare Investor Network
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Board/advisory member for universities and entrepreneurial organizations :
o Johns Hopkins Alliance, Maryland Technology Enterprise Institute, North Texas
Enterprise Corporation, Texas Bioscience Council, Coulter Foundation (Emory, Ga.
Tech), Sid Martin Biotechnology Incubator , Univ. Miami, Univ. Florida, Univ. Delaware
Research Foundation, Virginia CIT Gap Fund Investment Board (affiliated with all
Virginia Universities), Enterprise Florida
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Not-for-profit boards :
o Adventist Healthcare
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Speaker/panelist :
o Multiple national and regional conferences including BIO 2011
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H.I.G. BioVentures – Aaron Davidson
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Executive management at Eli Lilly and Company
• Business development
• Sales and marketing
• Finance
• General management
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Venture capital experience at Ventures West
• Leading Canadian healthcare investor
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Operating history at Eli Lilly and Company and venture-backed SYN-X
Pharma
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Broad network in the pharmaceutical and biotechnology industry as well
within the venture capital community.
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M.B.A., Harvard Business School
B.Comm., McGill University
[email protected]
(305) 379-2322
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H.I.G. BioVentures – Bruce Robertson
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Operating experience in both business development
and R&D
• IGEN (acquired by Roche)
• W.R. Grace
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Venture capital experience at Toucan Capital and
GIV Venture Partners
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Extensive relationships in the Mid-Atlantic’s financial, entrepreneurial and
scientific/academic community
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Well-connected within broad venture capital community
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M.B.A., Harvard Business School
Ph.D., University of Delaware (Biomedical Engineering)
B.S.E., University of Pennsylvania
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[email protected]
(305) 379-2322
H.I.G. BioVentures – Michael Wasserman
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Operating experience in entrepreneurial/venturebacked biotechnology
• Founder and VP, Business Development at
CELLutions Biosystems (acq. by Cedarlane Labs)
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Background in early-stage technology transfer and development as
a Principal with Innovations Foundation
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Clinical drug development and regulatory expertise based on tenure
at Advanced Therapeutics
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Extensive network and deal flow resources in multiple geographies – Southeast,
Midwest, Texas, Ohio, etc.
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Ph.D., University of Toronto (Pharmacology)
B.S., McGill University
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[email protected]
(305) 379-2322
H.I.G. BioVentures – Michael Gutch
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Venture Capital experience at Lilly Ventures,
Eli Lilly and Company
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Member of the Corporate Finance & Investment
Banking group at Eli Lilly and Company
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Post-doctoral research experience at Cold Spring Harbor Labs and UCSF
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Strong associations in the pharmaceutical and entrepreneurial communities and
networked throughout the Midwest and Northwest
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M.B.A., Indiana University
Ph.D., State University of New York (Molecular & Cellular Pathology)
B.S., Alfred University
[email protected]
(305) 379-2322
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H.I.G. BioVentures – Investment Strategy
Investment
Strategy
Areas of Unmet
Medical Need
• Large, attractive markets
• Significant unmet medical
needs
• Chronic or acute care high
value per patient disease
indications
Validation &
Differentiation
Efficient Clinical
Development
• Clear and meaningful clinical
end-points
• Short clinical development
timelines to demonstrate proofof-concept in appropriate
patient groups
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• Scientific and clinical
validation well established
• Differentiation from current
standard of care
• Regulatory precedent
established
Broad Source of
Deal Flow
• Extensive networks outside of
CA and MA resulting in
proprietary deal flow
• Approximately 80% of
investments in “secondary
geographies”
H.I.G. BioVentures – Partnering with Industry
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H.I.G. BioVentures values its long-term relationships with the pharma and
medical device industries
H.I.G. BioVentures has:
• Co-invested with corporate venture capital groups such as MedImmune
Ventures, SROne, Novo A/S
• Strong relationships with most pharmaceutical and med-tech corporate
venture capital and business development groups
• Ongoing discussions with CVC and BD groups on existing portfolio
companies and new deal opportunities
H.I.G. BioVentures portfolio companies have recently completed transactions
with:
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H.I.G. BioVentures – Summary
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Dedicated to investing in high potential life sciences companies
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Team of experienced investment professionals with deep domain knowledge
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Proprietary deal flow developed through a broad relationship network
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Ability to leverage the more than 200 investment professionals across the
H.I.G. Capital platform
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Building business relationships with pharmaceutical, biotechnology, and
medical device companies
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